Limitations of Product Life Cycle Model
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Questions and Answers

What is a significant limitation of the product life cycle model in relation to fashion products?

  • It fails to account for the global market.
  • It assumes all products follow a uniform sales pattern.
  • It overestimates the duration of product life.
  • It does not consider the impact of changing fashions. (correct)

    • How does competition affect the applicability of the product life cycle model to Birkenstock shoes?

  • Competitors can prolong the growth stage of a product.
  • Competitors have no impact on Birkenstock's product decisions.
  • The model predicts competitor behavior accurately.
  • Competitors' actions can expedite the decline stage of a product. (correct)

    • Why might the product life cycle model be considered simplistic for Birkenstock's decision-making?

  • It requires yearly updates to stay relevant.
  • It lacks comprehensive analysis of competitor dynamics. (correct)
  • It accounts for all external factors effectively.
  • It primarily focuses on financial metrics.

    • What should Birkenstock consider alongside the product life cycle when making product range decisions?

    <p>Competitor strategies, economic factors, and changing trends.</p> Signup and view all the answers

    Which aspect is NOT a limitation identified in the product life cycle model for Birkenstock?

    <p>It accurately predicts market saturation rates.</p> Signup and view all the answers

    Study Notes

    Limitations of Product Life Cycle Model

    • The product life cycle model is a simplification and not all products follow its classic shape.

    • It is difficult to predict the life cycle of products like Birkenstock shoes due to ever-changing fashion trends.

    • The model fails to consider the impact of competitors' actions. A superior product from a competitor can quickly push a product into decline.

    • While a useful visual tool for analyzing product portfolios, Birkenstock should consider additional research on competitors, economic conditions, and evolving trends before making final decisions on product ranges.

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    Description

    Explore the limitations of the Product Life Cycle model in this quiz. While it serves as a useful visual tool for analyzing products, it oversimplifies the complexities of current market dynamics and competitive actions. Assess how fashion trends and competitor strategies can impact a product's longevity.

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